Our Impact
Since 2021, we have been on a journey to become an impact driven business, which means we aspire to make a good impact on our customers, community, employees, and the environment. We are proud to be operating in a way that puts people and planet first.
“We believe the success of business should not be purely judged upon profit and growth.”
– Steve Brilus, CEO
To mark our journey so far, we have recently finalised our first Progress Report which shares information about our impact across the key areas: community, employees, environment, and customers.
Continue reading on this page for the highlights from our Progress Report.
What we do for our Community
We are committed to supporting our local Mancunian community, and our employees partake in ongoing work with two chosen charities, We Mind the Gap and Wood Street Mission. These charities have a social purpose and both work with young, underprivileged people, to ensure that they can access the support they need.
We Mind the gap
We Mind the Gap transform the lives of marginalised young people through a tailored support programme known as WeGrow, through this young people aged 16 – 25 have access to development workshops, adventure days out and work experience opportunities.
We have been proud supporters of We Mind the Gap since 2020 through our annual donations, but we have also invited cohorts of gappies into our office for a tour, celebrated Christmas together and have hosted a four-week work placement for one of the gappies.
“Faced with a cost-of-living crisis, the funding provided by Evolution Money has been crucial, and has allowed us to ensure that we can still deliver on our commitment to support our young people through whatever they face as a barrier to work and moving forward in life”
-Victoria Lewis, WeGrow Manchester Programme Lead
Wood Street Mission
Wood Street Mission are a children’s charity which has provided essential support to families living on a low income across Manchester and Salford since 1869.
The charity helps thousands of families each year, through several initiatives such as the Christmas appeal, Books Forever and Smart Start – all of which we have supported over the years.
Also, as well as financially donating, we encourage our employees to donate toys to the annual Christmas Appeal, with some going the extra mile to help Wood Street assort and wrap the donated gifts. This Wood Street initiative ensures that as many children as possible can enjoy the festive spirit and have something to open on Christmas Day.
Our employees are also keen fundraisers; through completing a 170ft abseil down the Trafford Palazzo, we were able to raise over £500 in support of Wood Street’s Smart Start programme – a service which supplies new school uniforms to local families.
Finally, we are ongoing contributors to Wood Street’s Book Appeal, a project which encourages children to rediscover their passion for reading and develop their literacy skills.
What we do for our employees
We strive to make life at Evolution Money enjoyable, which is why we provide added value benefits such as healthcare cash plans, paid training opportunities, study sponsorship and a variety of social events throughout the year.
“All team members have a real voice and feedback is actively encouraged…any feedback, positive or negative, is listened to and escalated if required.”
– Jim, Project Manager
We are currently working on the following initiatives to enhance our employee’s experience:
- Strengthening diversity, equity & inclusion within our business
- Reviewing our recruitment process to ensure that it is fair
- Increasing our transparency and effectiveness of internal communications
What we do for our customers
At Evolution Money, we are proud to do business differently. We are here to serve the millions of customers across the UK who currently cannot access a loan at a fair cost, even though they can afford to borrow.
Often our customers have struggled to access traditional credit, due to having an impaired credit history, or a complex financial situation. We appreciate that money can be a sensitive topic, which is why our advisors go above and beyond to provide an empathetic service.
To support this, we have evidence from a piece of external customer research which confirms that Evolution Money does operate in line with its social business purpose, which is to create financial inclusion for UK homeowners.
Here are some highlights from what our surveyed customers said:
- 100% say that the support from Evolution Money has helped them achieve their financial goals, at least partially
- 93% say that they are financially better off after consolidating debts with an Evolution Money loan
- Customers who took out a loan to consolidate debts, reported being £400 better off, per month *on average, after taking out an Evolution Money loan
*Based upon customer research with 121 respondents
One customer said “I didn’t have the best credit rating and had been left in a bit of a pickle. Evolution were so helpful and spoke to you on a normal level, it was very personal”
And another commented “I was fighting a losing battle and now suddenly, it is like a huge weight has been lifted. I am definitely better off.”
In summary, our customers are the heart of our business, and we will continue to work hard to provide them with affordable solutions.
Are you still curious to know more?
For a typical loan of £30,000.00 over 120 months with a variable interest rate of 19.56% per annum, your monthly repayments would be £598.34.
Including a Product Fee of £2,400.00 (8% of the loan amount) and a Lending Fee of £807.00, the total amount repayable is £71,800.20.
Annual Interest Rates ranging from 11.88% to 29.38% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.
Think carefully before securing debts against your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
